Raid by State CT & GST enforcement wing recovered cash worth of Rs 5.68 Cr in Odisha

Boudh: The State CT and GST Enforcement Wing conducted simultaneous raids in Boudh today and recovered cash worth of Rs 5.68 Crore.

Based upon the allegation that some textile dealers are selling goods out of account without issue of tax invoice in order to evade payment of tax, secret investigation was made on the basis of the data available in the system, the State CT and GST Enforcement Wing conducted simultaneous raids to Singhal N Singhal, located at Hospital Road, Boudh and Shree Binayak Textiles, located at PWD Road, Boudh at their place of business, godowns and residential places.

Three teams consisting of 18 officers of State CT & GST Enforcement Wings (besides the Police personnel) are engaged in the operation.

The investigating teams during the course of inspection are verifying purchase and sale details, stock accounts and the information available in computers, laptops etc. They are also recording the physical stock available in their business premises and godown for cross verification with books of accounts. The content available in the computer, laptop and the documents which remain unexplained have been seized for further investigation.

Further, during the course of inspection, a sum of Rs 5.68 Crore recovered from one taxpayer Shree Binayak Textile, PWD road, Boudh, which was deposited into the bank account of the said taxpayer and provisionally attached to prevent any debit entry from the account. Investigation reveals that these tax payers have paid very negligible amount of differential tax on their sales despite having huge turnover. The investigation is in process.

From the recently conducted raid State Enforcement Wing collected penalty and fine of Rs. 48.66 Lakhs from M/s Gouri Shankar Steel, Bargarh and Rs 61 Lakhs from conducted on Tarinin Bastralaya, Bhubaneswar.

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